Skandinaviska Enskilda Banken AB publ Has $63.19 Million Stake in EMCOR Group, Inc. (NYSE:EME)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its stake in EMCOR Group by 45.7% during the first quarter, owning approximately 171,010 shares worth around $63.2 million.
• EMCOR Group reported $5.41 earnings per share for the last quarter, exceeding the consensus estimate of $4.57, and achieved revenue of $3.87 billion, a 12.7% year-over-year increase.
• The company declared a quarterly dividend of $0.25, representing a 0.17% dividend yield, with an annualized yield of $1.00.

Skandinaviska Enskilda Banken AB publ raised its holdings in EMCOR Group, Inc. (NYSE:EME - Free Report) by 45.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 171,010 shares of the construction company's stock after purchasing an additional 53,651 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.38% of EMCOR Group worth $63,185,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. BankPlus Trust Department raised its position in shares of EMCOR Group by 200.0% during the 1st quarter. BankPlus Trust Department now owns 72 shares of the construction company's stock valued at $27,000 after acquiring an additional 48 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of EMCOR Group during the 1st quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of EMCOR Group during the 1st quarter valued at approximately $30,000. Continuum Advisory LLC grew its stake in EMCOR Group by 53.7% during the 4th quarter. Continuum Advisory LLC now owns 83 shares of the construction company's stock worth $38,000 after buying an additional 29 shares during the last quarter. Finally, Dogwood Wealth Management LLC bought a new position in EMCOR Group during the 4th quarter worth $40,000. 92.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at EMCOR Group

In other news, Director Robin A. Walker-Lee sold 947 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $412.83, for a total transaction of $390,950.01. Following the completion of the sale, the director directly owned 7,094 shares of the company's stock, valued at $2,928,616.02. This represents a 11.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anthony Guzzi sold 7,000 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $436.03, for a total value of $3,052,210.00. Following the sale, the chief executive officer directly owned 208,989 shares of the company's stock, valued at approximately $91,125,473.67. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.26% of the company's stock.

Analyst Ratings Changes

EME has been the subject of a number of recent research reports. Baird R W upgraded EMCOR Group to a "strong-buy" rating in a research note on Friday, June 27th. The Goldman Sachs Group upped their price objective on EMCOR Group from $384.00 to $435.00 and gave the stock a "sell" rating in a research note on Tuesday, July 8th. UBS Group upped their price objective on EMCOR Group from $570.00 to $715.00 and gave the stock a "buy" rating in a research note on Friday. Jefferies Financial Group assumed coverage on EMCOR Group in a research note on Friday, June 27th. They issued a "buy" rating for the company. Finally, William Blair assumed coverage on EMCOR Group in a research note on Friday, June 27th. They issued an "outperform" rating for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, EMCOR Group has a consensus rating of "Moderate Buy" and an average price target of $581.40.

EMCOR Group Price Performance

Shares of NYSE:EME traded down $2.85 during trading hours on Monday, hitting $632.21. 578,297 shares of the company's stock traded hands, compared to its average volume of 497,453. EMCOR Group, Inc. has a 52 week low of $319.49 and a 52 week high of $641.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.14 and a current ratio of 1.16. The company's fifty day simple moving average is $511.12 and its two-hundred day simple moving average is $451.54. The company has a market cap of $28.30 billion, a price-to-earnings ratio of 27.94 and a beta of 1.24.

EMCOR Group (NYSE:EME - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The construction company reported $5.41 earnings per share for the quarter, beating the consensus estimate of $4.57 by $0.84. EMCOR Group had a net margin of 7.00% and a return on equity of 37.12%. The company had revenue of $3.87 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the firm posted $4.17 EPS. The business's revenue for the quarter was up 12.7% on a year-over-year basis. As a group, equities analysts anticipate that EMCOR Group, Inc. will post 20.74 EPS for the current fiscal year.

EMCOR Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.16%. The ex-dividend date of this dividend is Tuesday, July 15th. EMCOR Group's dividend payout ratio is 4.42%.

EMCOR Group Company Profile

EMCOR Group, Inc provides construction and facilities, building, and industrial services in the United States and the United Kingdom. It offers design, integration, installation, start-up, operation, and maintenance services related to power transmission, distribution, and generation systems; energy solutions; premises electrical and lighting systems; process instrumentation; low-voltage systems; voice and data communications systems; roadway and transit lighting, signaling, and fiber optic lines; computerized traffic control systems, and signal and communication equipment; heating, ventilation, air conditioning, refrigeration, and geothermal solutions; clean-room process ventilation systems; fire protection and suppression systems; plumbing, process, and high-purity piping systems; controls and filtration systems; water and wastewater treatment systems; central plant heating and cooling systems; crane and rigging services; millwright services; and steel fabrication, erection, and welding services.